Originally Posted by Sly

What does a 20% down payment have to do with a $200,000 loan? A $200,000 loan is a $200,000 loan. It doesn't matter what you paid on top of that as a down payment.

If your house was $200,000, you put down a 20% down payment of $40,000, you would then effectively have a $160,000 loan (assuming you did not add on another $40,000 to the loan just for the hell of it), not a $200,000 loan.